A company associated with the family of Malaysian timber tycoon Admond Looh has emerged as the $23 million buyer of a historic East Melbourne office building sold by former Rich Lister Lionel Krongold.
Mr Looh is the former executive director and chief operating officer of Malaysian logging and timber company Java Bhd. He has also previously held interests in several Australian mining companies.Weekly Times in 1926 as a newspaper warehouse, Marlion house was converted into offices in 1988. It was acquired a year later by the Krongold family for $3.6 million.
“Just as the Notting Hill is to London, or the Upper East Side is to New York, East Melbourne has enshrined itself as the most prestigious and tightly held enclave at the edge of the Melbourne CBD,” said JLL’s head of capital markets, Josh Rutman. “The campaign uncovered a huge depth of buyers ranging from investors, developers and owner-occupiers, demonstrating the quality and versatility of this asset,” said Colliers co-selling agent Oliver Hay.
The irony of a timber tycoon from Malaysia. palmoil
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK’s Smart Pension group to expand to AustraliaUK retirement fintech operator Smart Pension is to establish an Australian office in Melbourne
Source: FinancialReview - 🏆 2. / 90 Read more »
The Elon Musk Twitter paradoxInvestors are divided about whether Elon Musk’s move to pull out of his Twitter takeover is a case of market capitulation, or a sign that equity markets are likely to remain depressed.
Source: FinancialReview - 🏆 2. / 90 Read more »
Market rout puts ‘reverse FOMO’ into most young investorsThey say the Wall Street hammering that pushed the market into bear territory last month has not made them alter their investment strategies. WhereIsPengShuai
Source: FinancialReview - 🏆 2. / 90 Read more »
The dodgy tax deductions landlords are being warned not to claimTaxpayers spend billions every year on deductions for property investors, and the Australian Tax Office has some questionable claims in its sights this tax time. TawarRazaghi you know they’re all clicking on this to make sure they’re claiming it? TawarRazaghi Travel expenses to see your accountant in Panama TawarRazaghi Do claim them. Get fined. Go to jail. Do not pass Go. Do not collect $2000.
Source: smh - 🏆 6. / 80 Read more »
The dodgy tax deductions landlords are being warned not to claimTaxpayers spend billions every year on deductions for property investors, and the Australian Tax Office has some questionable claims in its sights this tax time. TawarRazaghi Oh.
Source: theage - 🏆 8. / 77 Read more »
Hungry Jack’s invests $20m to take on McCafeThe burger chain’s chief executive, Chris Green, admitted the push had come a “little bit late” but said it had found a gap in the market. A gap in the coffee market? In Australia?
Source: FinancialReview - 🏆 2. / 90 Read more »